Need To Boost India, U.S. Bilateral Trade To $1 Tn: Think-Tank

WASHINGTON: Ahead of the meeting between Prime Minister Narendra Modi and U.S. President Barack Obama later this month, an eminent Indian think-tank has said the two nations need to take steps to increase their bilateral trade to $1 trillion by 2030.

The paper titled The India-U.S. Partnership: $1 Trillion by 2030, by Mumbai-based Gateway House, released here argues that to elevate the bilateral trade from $120 billion in 2013 to $1 trillion in 2030, the two countries need to adopt a different path for its bilateral trade.

It says the paths should be based on hockey-stick curve more typical of tech start-ups and one that will bring India into the group of the three other countries outside the G7, which have a deep economic tie with the U.S.: Israel, Mexico and South Korea.

Authored by Nish Acharya, a senior advisor at Northeastern University, the paper identifies four positions for India and the U.S. to pursue for the success of the engagement.

Technology, then as now, presents the springboard for the future of a vigorous India-U.S. partnership, it said.

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